Long-term care is one of the most important financial
issues facing your members. An American Academy of Actuaries 1999 study
estimates 40% of adults ages 18-64 and 57% ages 65 and older will need
long-term care. Most of those who will need long-term care will be forced to
spend their savings for care. This table illustrates the financial exposure to your
members and the Credit Union. For Every 10,000 Capstone was formed on the premise that we can be the
very best home for the elite LTCI producer and the very best in the industry at
partnering with affiliates. With elite agents nationwide, our organization is
unlike any other in the industry. There are no �novices� or �trainees� meeting
with your members. Working with the �A Team� translates into extraordinary
benefits for your members and results for your organization.
Nationwide, in 2001, care-giving families spent $2 billion per month of their
own money providing care to family members.
Mature
members
33.3%
will spend time in a care facility
3,330
Members in care
Average 3.1
years per LTC event
10,323
Years spent in care
Average cost of
$70,000 per year
$722,610,000
Spent on Long-Term Care
2.1%
VA benefits
$15,174,810
Paid by VA Benefits
4.9% Private
Insurance or other source
$35,407,890
Paid by Private Ins. or other
sources
8.2%
Medicare
$59,254,020
Paid by Medicare
47.6% Medicaid /
Public Assistance
$343,962,360
Paid by Medicaid / Public
Assistance
37.2%
Out of Pocket
$268,810,920
Paid
by Your Members